“Industry insiders” and third-party retailers are keen on ruining Google’s surprises for I/O 2014, divulging precious information on Samsung’s first Android Wear device, as well as LG’s G watch mere hours ahead of the conference’s kickoff.

It’s no big secret anymore, Google I/O 2014 will be all about smartwatches. A fresh build of “regular” Android may also be previewed, but for the most part, Android Wear, the wearable-centric OS, should be front and center in the spotlight.

By far the most active wearable player around (and the early leader of the fledgling market), Sammy reportedly plans to brand its rookie Android Wear effort as the Gear Live. Not Galaxy Gear Live, mind you.

Live? That definitely has a certain ring to it, while speculated specifications read pretty much exactly like Gear 2’s list of features. The touchscreen is allegedly just as large (1.63 inches) and squarish (320 x 320 pixels), you get IP67 certification for water and dust protection, 512 MB of RAM, 4 gigs of on-board storage space, Bluetooth 4.0 connectivity and a tiny 300 mAh battery.

Aesthetically however, the Gear 2 should be treated to a nifty little facelift for its transformation into Gear Live, as the latter tips the scales at 59 grams, significantly south of Gear 2’s weight. A subtle performance bump is also in the cards, courtesy of a CPU clocked at 1.2 GHz (vs just 1).

Anyone intrigued? Clearly, price will greatly factor in, and that’s one tidbit that remains up in the air. Which is not what we can say about Gear Live’s brother in arms/rival, the G Watch. Perfectly on track for a July 7 commercial debut, LG’s intelligent wristwatch is priced at $255 by Mobile Fun.

Note that we’re dealing with a British retailer, but one that ships its merchandise all around the world, with price tags varying from country to country. So their number could be replicated to the letter by fellow stateside sellers, or undercut. Otherwise put, $200 is still a possibility. Nice!